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Manz reports negative EBIT, higher revenue in 9-mo 2018

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Manz reports negative EBIT, higher revenue in 9-mo 2018


November 15 (Solar) – German solar and other machinery manufacturer Manz AG (ETR:M5Z) reported on Tuesday lower EBITDA and a negative EBIT for the first nine months of 2018, even as revenues increased by 34% to EUR 258.2 million (USD 292m).

Earnings before interest, tax, depreciation and amortisation (EBITDA) went down to EUR 3.8 million from EUR 8.5 million a year ago, while earnings before interest and tax (EBIT) turned to a negative result of EUR 2.8 million from positive EUR 0.8 million. The company said a cable fire at a facility in Taiwan had a negative impact of EUR 2.2 million on its EBIT, without which the result would have been a loss of just EUR 0.6 million.

Still, in the third quarter EBIT was positive at EUR 2.2 million, which is an increase of EUR 8.4 million for the same period a year ago.

"Assuming framework conditions stay the same, we will thus reach our forecast revenue growth of 10-14 % with a positive EBIT without special effects," Martin Drasch, CEO, commented.

in EUR million Jan-Sep 2018 Jan-Sep 2017
Revenue 258.2 192.6
– Solar 88.1 37.8
– Electronics 54.8 63.5
– Energy Storage 22.7 17.0
– Contract Manufacturing 77.4 62.2
– Service 15.1 12.2
EBIT (loss) (2.8) 0.8
– Solar 11.7 27.0
– Electronics (11.2) (16)
– Energy Storage (7.2) (16.7)
– Contract Manufacturing 1.3 2.7
– Service 3.6 3.7
EBITDA 3.8 8.5
– Solar 12.5 29.2
– Electronics (8.8) (13.2)
– Energy Storage (4.9) (14.9)
– Contract Manufacturing 2.2 3.6
– Service 3.7 3.8

(EUR 1 = USD 1.13)


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